Strategic Profits Inc. Announces Development Phase of New Web Services Platform
VANCOUVER, British Columbia, Jul 12, 2001 (BUSINESS WIRE) -- Strategic Internet
Investments Incorporated, (the "Company"), today announced that Strategic
Profits Inc. ("SPI"), traded publicly through the Company, (SPI's parent), under
the symbol SIII - OTC:BB (OTCBB:SIII), has completed its research requirements
for its proprietary web services technology platform.
SPI has now moved into the specifications and development phase of their product
mix, beginning with the rebuilding of all internal applications within the new
process. SPI has been a secure payment service provider since 1997, and provider
of e-solutions since 1994.
Web services are the new building blocks of the net, allowing more complicated
applications to be created from standards based components invoked across the
internet. SPI's proprietary applications are independent modular applications
that can be published, located, and called across the Internet for small to
large corporations. Web services perform functions, which can be anything from
simple requests such as a web page to complicated business processes such
shipping, tax calculations, accounting, apportionment, and Electronic Customer
Relations Management ("eCRM"). Although the modules are built independently they
are designed to be fully interoperable depending on the requirements of the
particular company or charity organization.
The first application is our internal project/task management application, which
allows SPI to track, in detail, all tasks and their associated costs related to
the SPI marketing and development efforts. Later this month, upon completion,
SPI will immediately begin using the application to plan the development and
rollout of all of SPI's commercial applications starting with our Lead Tracking
system.
"The web services platform development is an integral part of our business
strategy and continued commitment to providing our existing customers with the
highest quality secure products at the lowest price possible, while attracting
new customers with leading edge technology designed to meet their online
business needs," says CEO, Catherine Clarke Luckhurst.
Investor Relations Firm Retained - Veritas Communications Group Ltd.
The Company is also pleased to announce that it has retained the services of
Veritas Communications Group Ltd. of Vancouver, B.C., effective July 1, 200l, to
undertake a comprehensive Investor Relations program including the development
of financial support and exposure within the brokerage community, communications
with analysts, fund managers, business newswire and publications services and
individual investors.
Veritas Communications Group, based in Vancouver, B.C. and Solana Beach,
California, is a corporate communications firm that specializes in working with
publicly traded, emerging growth companies. With extensive industry experience,
cutting edge marketing techniques and an extensive investor base, Veritas
provides an effective investor awareness solution for small cap companies.
Structuring Investor Relations programs designed to meet each client's specific
requirements, Veritas has built a solid record of success. (Complete information
on Veritas can be found at their website: www.veritascommunications.com.)
Company Annual General Meeting of Shareholders held on June 15, 2001
The six Resolutions put forward in the Proxy Statement were passed by a majority
of the Shareholders and without any dissenting votes.
- The firm of Amisano Hanson was re-appointed to act as Auditors
for the Company for the ensuing year.
- The current Board of Directors of the Company, Ralph Shearing,
Abbas Salih, Catherine Clarke-Luckhurst and Mario Aiello were
re-elected as Directors.
- Approval was granted for the name of the Corporation to be
changed from Ohio & Southwestern Energy Company to STRATEGIC
INTERNET INVESTMENTS INCORPORATED.
- Approval was granted to migrate the Company from its current
State of Incorporation, Colorado, to the State of Delaware.
- The Agreement and Plan of Reorganization between Canarab
Technology Limited and the Company was approved. This
Agreement allows Canarab Technology Limited to become a wholly
owned subsidiary of SIII. Canarab Technology Limited owns
certain equity interests in STRATEGIC PROFITS INC., as
outlined in previous press releases.
- The Company's Employee Stock Option Plan dated September 30,
2000 and the proposed new corporate by-laws for the State of
Delaware were also approved.
About Strategic Profits, Inc.
SPI has been providing Internet commerce solutions to small and medium
enterprises, not-for-profit and charities since 1994 including secure credit
card transactions since 1997. SPI provides full Internet service offerings
including online education, web hosting and design, Internet marketing, secure
shopping cart and payment order systems, as well as secure payment transactions
through Moneris Solutions and through out North American with GPS. Secure cash
transactions are available through their partners, Hyperwallet.com! In 1998 SPI
launched the communitystorefronts.com e-commerce pilot with their consortium
partners Industry Canada, Royal Bank of Canada. Today, communitystorefronts.com
is a fully commercialized portal offering online shopping, fundraising, and
turnkey e-commerce solutions. http://www.strategicprofitsinc.com. Feb. 1, 2001
SPI, HP (Canada) Ltd. and TELUS announced an alliance to deliver a new
generation secure Internet-based credit card payment service ... PayPaq(TM).
Statements regarding financial matters in this press release other than
historical facts are "forward-looking statements" within the meaning of section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and as that term is defined in the Private Securities Litigation Reform
Act of 1995. The company intends that such statements about the Company's future
expectations, including future revenues and earnings, and all other
forward-looking statements be subject to the safe harbors created thereby. Since
these statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's actual
results may differ materially from expected results.
Shares issued: 12,148,384
Sec No. 33 - 28188
CONTACT: Coast Market Research, Inc.
Grant Miller, 707/575-4027
grant@strategicprofitsinc.com
or
Strategic Internet Investments, Inc.
Ralph Shearing, 604/684-8662
ralph@strategicprofitsinc.com
www.ohiosw.com
or
Strategic Profits Inc.
Catherine Clarke Luckhurst, 604/684-5671
cc@strategicprofitsinc.com
www.strategicprofitsinc.com
or
Veritas Communications Group Ltd.
Peter Watson, Investor Relations, 604/331-9583
or 800/773-7317
peter@vericom.ca
www.veritascommunications.com
